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Hard Money Loans in Cavour, South Dakota
Cavour, SD has 13 lenders operating in the city. In this city, the median loan amount is $421,250. Rates for loans average around 11.9%. The median loan made in this city is for 31 months. The mean note includes a 4.8 point origination cost. The median loan-to-value (LTV) for loans in Cavour is 68%.
Loan Example 1
Richard is a house flipper in Cavour, SD. He finds an older property and wants to renovate it and resell it for a profit. The house costs $180,000 but he doesn't have the full amount so he takes out a private money loan with Affluent Lending Corporation. The loan-to-value (LTV) on the deal is 75%. This means Richard will bring 25% of the purchase price to closing and the principle amount will be $135,000 on the note. The loan is interest-only, with monthly payments, and is for 12 months at 14% interest with 3 origination points paid at the closing.
On top of the $4,050 origination fee, Richard will also need to fund $45,000 of the purchase with his own money, or 25% of the purchase price. After the loan is closed and Richard takes the property, he will begin making monthly payments of $1,575 to the lender ($135,000 principle x 14% / 12 months). If Richard accomplishes his goal of a $216,000 total sales price when the loan expires, he would pocket a gross profit of $13,050 after repaying the principle on the note and deducting the money he paid at closing, the origination fee, and the total interest payments.
Loan Example 2
West Side Lending makes a private money loan to Clyde for a renovation project in Cavour, SD. The deal dictates the following:
$260,000 sales price
65% loan-to-value (LTV)
18 month term
12% interest rate
4% origination fee
Clyde plans to sell the property when the note expires for $338,000. If he succeeds, the final numbers will be the following:
$338,000 sales price
- $169,000 principle (65% LTV)
- $91,000 down payment (35% on 65% LTV)
- $6,760 origination points (4% of the $169,000 principle)
- $30,420 total interest paid (18 months x 12% interest)
-----------------------
= $40,820 gross profit (doesn't include taxes or renovation costs)
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CMN Funding
1510 Central Ave, Suite 380
Albany, NY 12205
Headquartered in Albany, NY, CMN Funding is a hard money lender providing loans all across the US. Their lending focus is primarily on private commercial real estate loans. They issue loan amounts starting at $100,000 with no maximum. They will ...
Harbor Private Equity
1075 Peachtree Street NE, Suite 3650
Atlanta, GA 30309
We want to see any commercial transaction that makes sense. The principals at Harbor Private Equity have over 75 years experience in the hard money, bridge loan marketplace. We specialize in raw land, development, construction and bridge loans for non-owner ...
Dominion Financial
32 S Street
Baltimore, MD 21202
Dominion Financial Services is a private lender serving professional single-family real estate investors. We offer fix & flip loans, 30-yr fixed-rate rental loans, new construction financing, and multifamily bridge loans. We currently lend in all 50 states and Washington D.C ...
Secured Investment Lending
1485 International Parkway, Suite 1031
Lake Mary, FL 32746
Secured Investment Lending is private lender headquartered in Lake Mary, FL. They provide funding in 49 states throughout the country. They provide lending solutions for a variety of scenarios, including short term bridge loans, commercial loans, cash ...
Rapid Commercial Loans
6136 Frisco Square suite 433
Frisco, TX 75034
Rapid Commercial Loans are private money lenders actively originating Private loans for commercial properties nationwide. With traditional lenders tightening up on their lending criteria, private money loans for commercial properties are becoming the most efficient loan product for many borrowers ...
American Land and Capital
16233 Kenyon Avenue, Suite 120
Lakeville, MN 55044
American Land and Capital is a Lakeville, MN based hard money lender. They offer loans in Minnesota, Wisconsin, North Dakota, South Dakota, Iowa, and Nebraska. They offer builder loans and fix and flip loans. ...
National Advance Group
1 Linden Place
Great Neck, NY 11021
Based in Great Neck, NY, National Advance Group is an asset-based lender providing loans in 50 states across the United States. They offer lending solutions for a variety of scenarios, including commercial hard money loans and fix-and-flip hard money ...
Figure.com
650 California Street, Suite 2700
San Francisco, CA 94108
At Figure, we're transforming home equity by creating a faster, simpler and more transparent way to meet your financial goals. Learn how to use the equity in your home to consolidate debt, pay for home improvement, or fund your goals. ...
AMUSA Commercial Capital
301 Commerce Street Ste. 1420
Fort Worth, TX 76102
AMUSA Commercial Capital is a Dallas, TX based private money lender. They provide funding throughout the country. Their lending focus is mainly on non-bankable commercial real estate loans and Investment 1 to 4 loans. Their loan guidelines are flexible, including ...
ABC Capital Investments
1218 N. Marshall Street
Philadelphia, PA 19122
ABC Capital Investments is a Philadelphia, PA based private lender who offers loans all throughout the US. They provide lending solutions for many different scenarios, including long term rental property loans and short term fix and flip loans. ...
11 Capital Finance
20 West Vine Street #575
Lansdale, PA 19446
Based in Lansdale, PA, 11 Capital Finance is a hard money lender offering funding throughout the United States. They provide hard money construction loans, cash out hard money loans, commercial hard money loans, and bridge loans. ...
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